GFIA Response to the EIOPA Informal Consultation on the Supervision of Non-EEA (Third Country) BranchesRelease Date: 07/02/2014 Staff Reference: Janice Hilchie
The Global Federation of Insurance Associations (GFIA) through its 38 member associations represents insurers that account for around 87% or more than $4.0 trillion in total insurance premiums worldwide. We appreciate the opportunity to comment on this document.
The goal of achieving a consistently high level of policyholder protection, as embodied in these guidelines, is a commendable one and one we support as an industry. However, there remain several strong concerns with the guidelines as they are currently drafted, and overall we believe they are disproportionate to the aim of achieving an appropriate level of policyholder protection.